DTCXHIGH SIGNALFINANCIAL10-K

DTCX underwent massive financial transformation with revenue surging 939,640% to $7M while losses more than doubled and capital expenditures exploded to $25.9M, alongside a dramatic 284% increase in outstanding shares.

The extreme revenue growth coupled with proportionally larger operating losses suggests the company may have completed a major acquisition or business transformation that hasn't yet achieved profitability. The nearly 4x increase in share count from 9.4M to 36.2M shares indicates significant dilution, likely from equity financing to fund the massive $25.9M capital expenditure program.

Comparing 2026-04-13 vs 2025-03-11View on EDGAR →
FINANCIAL ANALYSIS

DTCX experienced explosive growth with revenue jumping from $741 to $7M, but this came at enormous cost as operating losses doubled to $7.9M and capital expenditures skyrocketed over 233,000% to $25.9M. The balance sheet strengthened dramatically with stockholders' equity rising 1,290% to $66.2M and cash increasing to $38.9M, funded by significant share dilution that nearly quadrupled the outstanding share count. This financial profile suggests a company that raised substantial capital and made major investments or acquisitions, but is still burning cash heavily while scaling operations.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+939640.5%
741$7.0M

Strong top-line growth of 939640.5% — accelerating demand or successful expansion into new markets.

Capital Expenditure
Cash Flow
+233157%
$11K$25.9M

Capital expenditure jumped 233157% — major investment cycle underway; assess returns on deployment.

Stockholders Equity
Balance Sheet
+1289.6%
$4.8M$66.2M

Equity base grew 1289.6% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Total Assets
Balance Sheet
+1210%
$5.1M$66.8M

Asset base grew 1210% — expansion through organic growth, acquisitions, or capital deployment.

Current Assets
Balance Sheet
+805.5%
$4.8M$43.8M

Current assets grew 805.5% — improving short-term liquidity or inventory/receivables build.

Cash & Equivalents
Balance Sheet
+731.5%
$4.7M$38.9M

Cash position surged 731.5% — strong cash generation or capital raise providing significant financial cushion.

Interest Expense
P&L
+559.1%
$11K$73K

Interest expense surged 559.1% — significant debt increase or rising rates materially impacting earnings.

Total Liabilities
Balance Sheet
+409%
$66K$335K

Liabilities grew 409% — significant increase in debt or obligations, assess impact on financial flexibility.

Net Income
P&L
-112.6%
-$4.0M-$8.5M

Net income declined 112.6% — review whether driven by operations, interest costs, or non-recurring items.

Operating Income
P&L
-100.7%
-$3.9M-$7.9M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

LANGUAGE CHANGES
NEW — 2026-04-13
PRIOR — 2025-03-11
ADDED
(exact name of registrant as specified in its charter) Nevada 85-3651036 State or other jurisdiction of incorporation or organization (I.R.S.
As of April 13, 2026, there were 36,208,403 shares of the registrant s common stock outstanding.
MARKET FOR REGISTRANT S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 49 ITEM 6.
FORM 10-K SUMMARY 79 SIGNATURES 80 i CAUTIONARY NOTE ON F orward-Looking Statements This Annual Report on Form 10-K (the Annual Report ) includes a number of forward-looking statements that reflect management s current views with respect to future events and financial performance.
Forward-looking statements are projections in respect of future events or our future financial performance.
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REMOVED
As of March 10, 2025, there were 9,426,502 shares of the registrant s common stock outstanding.
THUMZUP MEDIA CORPORATION FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 INDEX Page PART I Item 1.
Market for the Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 35 Item 6.
Form 10-K Summary 43 Signatures 44 2 PART I In this Annual Report on Form 10-K, we, our, us, Thumzup , and the Company refer to Thumzup Media Corporation, unless the context requires otherwise.
Forward-Looking and Cautionary Statements This Annual Report contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements.
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